Have you been dreaming of a vacation for a long time after dedicating more time and energy to your workloads amid an unstable economy? Planning and anticipating a trip can be almost as enjoyable as going on the trip itself but the challenge is always on finance which often hold us back to make our memories to last in a lifetime.
We all know that trip-planning can give us a sense of comfort and reduced anxiety…..looking ahead to your next adventure could benefit your mental health. Even if you’re not sure when that adventure will be.
To enable your dream come through, Guaranty Trust bank has introduce Travel Advance which is a time loan designed to meet the travel needs of their customers whose salary accounts are domiciled with the Bank who intends to make payment for International Travels only.
Travel Advance is available to customers in form of Airline Ticket,Hotel Reservation,Airport Pickup and Transfer as well Tours and Events. The travel advance loan limit is displayed when you login to Internet Banking and input the exact amount required for payment purpose.
What is Gtbank travel advance Tenor of my loan?
You have the option of 30days, 60 days, 90days, 180 days, 210 days and 360 days which ever tenor that fit your repayment period.
What is the interest rate of Gtbank travel advance loan?
The Interest rate is 20% per annum subject to money market conditions, However, notifications would be given at least ten (10) business working days before any rate amendments are made. The repayment Source is an equal monthly repayment of principal and interest from monthly salary domiciled with GtBank.
Features of Gtbank travel advance loan
1. Facility Amount N250,000 to N3,000,000
2. Maximum Tenor 12 months
3. Interest Rate 20% per annum (subject to money market conditions)
4. Comfort/Security: Domiciliation of salaries and allowances
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Who can apply for Gtbank travel advance loan
1. For you to qualify for Gtbank travel advance loan, Customer must have their salary account domiciled with GTBank.
2. Customer must have received his/her salary through GTBank in the last three months from the same employer.
3. Salary must be paid in Naira (NGN).
How to Apply for Travel Advance Loan
Interested Gtbank travel advance borrower should follow the steps below.
1. Login to Internet Banking
2. Click Travel Advance under Investments and Quick Loans
3. Select Travel Advance and initiate a New request
4. Fill the required details
5. Authorize your request by inputting the 6 digits on your token and submit.
How to estimate your Travel Loan amount?
To determine how much of a Travel Loan you should take, you must first create a complete travel budget. To do that, take these steps:
1. Research your destination:Try and read guide books or travel websites to get an idea of the places you want to visit
2. check out your total trip cost: this include meals, sightseeing tickets,transportation, visa fees and lodging
3. Figure out How much can you raise on your own before applying for any bank loan